经济学外文翻译

南京财经大学

本科毕业论文（设计）外文

翻译

题目：中美贸易摩擦问题研究

学生姓名：俞力学号：**********院（系）：经济学院专业：经济学基地班

指导教师苏华山

2012年 5 月 11 日

原文：

Major U.S.-China Trade Issues

China-U.S. Trade Issues

China’s economic reforms and rapid economic gr owth, along with the effects of globalization,have caused the economies of the United States and China to become increasingly integrated Although growing U.S.-China economic ties are considered by most analysts to be mutually beneficial overall, tensions have risen over a number of Chinese economic and trade policies that many U.S. critics charge are protectionist, economically distortive, and damaging to U.S.economic interests. These include China’s resistance to adopting a market-based currency; its mixed record on implementing its obligations in the World Trade Organization (WTO), including its failure to provide adequate protection of U.S. intellectual property rights (IPR); and its use of industrial policies, including discriminatory government procurement policies, to promote and protect various Chinese domestic industries. Some Members have argued that, given the high rate of U.S. unemployment, China’s “unfair” economic and trade policies can no longer be tolerated, and have urged the Obama Administration to more aggressively use the trade tools at its disposal to challenge such policies whenever possible, such as U.S. trade remedy laws and the WTO’s dispute resolution mechanism.

A 2011 survey by the American Chamber of Commerce of its members in China illustrates China’s opportunities and challenges for U.S. firms. It reported that 78% of those surveyed said that they made a profit in China in 2010, and 85% said they would boost investment in their Chinese operations in 2010. However, 35% of respondents stated that it has become more difficult to obtain businesses licenses in recent years and 25% said that China’s indigenous innovation policies (discussed below) were hurting their businesses.

China’s Currency Policy

Unlike most advanced economies (such as the United States), China does not maintain a market based floating exchange rate. Between 1994 and July 2005, China pegged its currency, the renminbi (RMB) or yuan, to the U.S. dollar at about 8.28 yuan to the dollar. In July 2005, China apprec iated the RMB to the dollar by 2.1% and moved to a “managed float,” based on a basket of major foreign currencies, including the U.S. dollar. In order to maintain a target rate of exchange with the dollar (and other currencies), the Chinese government has maintained restrictions and controls over capital transactions and has made large-scale purchases of U.S. dollars (and dollar assets). According to the Bank of China, from July 2005 to July 2009, the dollar-yuan exchange rate went from 8.27 to 6.83 yuan per dollar, an appreciation of 21.1%.However, once the effects of the global financial crisis became apparent, the Chinese government halted its appreciation of the RMB and subsequently kept the yuan/dollar exchange rate relatively constant at 6.83 from July 2009 to June 2010 in order to help limit the impact of the sharp decline in global demand for Chinese products.

Many U.S. policymakers, labor groups, and business representatives of import-sensitive industries have charged that, despite minor reforms, the Chinese government continues to